Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0172%/8h= +18.8% APRpaid last 24h +0.007%

Price spread now: Lighter against KuCoin+0.058%7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$780.777% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.062%+$6 on $10k

Price spread, last 4 days (all we have)−0.061%−$6 · spread now +0.058%, 7d avg −0.005%

Together, before fees0.000%+ Points / potential airdropLighter: Season 3 · farm board$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Lighter is 0.063% dearer against KuCoin than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin 1000BONKUSDTM	0.000003612	0.0100	pay 0.0050% / 4h	1h 51m	$2.9M	$10.7M	75x
Short	Lighter 1000BONK	0.000003614	0.0272	get 0.0034% / 1h	51m 47s	$252K	$738K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee KuCoinbpFee LighterbpOrdersPrice spread, now +0.058%Rate

Funding earned: $36.12
Price spread: +0.058% → −0.005%: $6.35
Slippage, 4 orders: −$65.73
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$35.26
Costs to cover: 0.777%
Break-even: 13.8 days

Slippage from KuCoin: live order book, 7 min ago; Lighter: live order book, 39 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy KuCoin live order book, 7 min ago	2.73 bp	22.3 bp −$22	416.5 bp −$4,165	doesn't fit	doesn't fit
Sell Lighter live order book, 39 min ago	1.42 bp	9.0 bp −$9	39.0 bp −$390	doesn't fit	doesn't fit

BONK on 31 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International 1000BONK-PERP-INTX	−0.0016%	1h	0.000003606	−0.163%	$44K	$52K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003611	−0.014%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003616	+0.116%	$25	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−9.355%	$3K	$113	5.5x	as long as short
BloFin 1000BONK-USDT	+0.0041%	4h	0.000003620	+0.224%	$1.1M	$18.9M	75x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003618	+0.167%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003616	+0.114%	$51K	$119K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003617	+0.127%	$61K	$301K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003612	+0.003%	$121K	$133K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003612	+0.008%	$18.6M	$76.6M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003604	−0.224%	$12.2M	$23.7M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003612	+0.003%	$3.0M	$12.9M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003615	+0.086%	$996K	$3.2M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003611	−0.025%	$11.0M	$8.6M	125x	as long as short
KuCoin 1000BONKUSDTMlong	+0.0100%	4h	0.000003612	long leg	$2.9M	$10.7M	75x
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003612	+0.003%	$4.6M	$4.3M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003611	−0.025%	—	$5.0M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003608	−0.112%	$335K	$142K	—	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003617	+0.141%	$31K	$52K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003623	+0.307%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003618	+0.169%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003620	+0.224%	$103K	$131K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003616	+0.100%	$24K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003614	+0.058%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−16.941%	$399	—	100x	as long as short
Lighter 1000BONKshort	+0.0272%	1h	0.000003614	+0.058%	$252K	$738K	10x
Deribit 1000BONK_USDC-PERPETUAL	+0.0303%	1h	0.000003619	+0.197%	$20K	$155K	10x	as long as short
ApeX Omni 1000BONKUSDT	+0.0866%	1h	0.000003639	+0.750%	$61K	$706K	25x	as long as short
Hyperliquid kBONK	+0.1272%	1h	0.000003619	+0.197%	$12.0M	$7.3M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1696%	1h	0.000003624	+0.335%	$56K	$24K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2973%	1h	0.000003632	+0.558%	$224K	$219K	50x	as long as short